Tuesday, May 19, 2015

A consultant to the Africa Centre for Energy Policy (ACEP) has described the fuel price adjustment as sheer wickedness on the part of the John Mahama government.

According to John Peter Amewu, the government is extorting monies from consumers in a “cheap way”.

He has described the government as confused because it does not know where to draw monies than to increase fuel prices.

“Government is not taking the right advice from its technical expertise and they think that is the cheapest way of mobilising money into petroleum products. That is why we are witnessing this increase in the tax of petroleum prices because this is one of the largest single traded commodity,” Amewu said on the Ultimate Breakfast, Monday.

He added: “It is very easy for government to mobilise funding but that is wrong. It is extortion. Why are you asking me to buy petroleum products at a very expensive price and you are asking me not to get equivalent price for the work that I am doing…and so this government is not caring”.

The National Petroleum Authority (NPA) has announced a 9% increment in prices of some petroleum products.

The adjustment took effect Sunday, May 17, 2015. Petrol is now selling at Gh¢3.33p from the current price of Gh¢3.5p.

Diesel will also be selling at Gh¢3.24 up from the current price of Gh¢2.97 per litre.

LPG is expected to be sold at Gh¢2.88 from the old price of Gh¢2.64.

Unified petroleum and kerosene for mining firms are expected to go up by 4 per cent.